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The Gadget Amazon Just Purchased For $1 Billion Plus

You know that saying "If at first you don't succeed, try, try again." Well, here's proof of how true that is. A man named Jamie Siminoff was turned away by the experts on the hit TV Show Shark Tank 5 years ago for his wifi-enabled doorbell that connects to home video cameras to alert homeowners to people at their front door. Clearly, he was devastated, but it didn't dampen his resolve to make his device and company "Ring" a success. According to Newser, that resolve has paid off after this week Amazon announced they have made a deal with Siminoff to buy his smart doorbell for more than $1 billion, making it one of Amazon's biggest purchases to date.

Despite being rebuffed n the show, the appearance helped Siminoff get some publicity for his invention, which he says "drove sales to $3 million within the year."